5 percent VAT not only in the swine sector

The Livestock and Meat Marketing Board and Interprofessional Organisation (VHT) considers the reduction of VAT to 5 percent in the pig sector not only as a sectoral advantage but as some kind of opportunity that may bring a VAT reduction in the rest of the food sector.

The VHT published this opinion on Tuesday in an open letter, after Erdélyi István, President and CEO of the Gallicoop Pulykafeldolgozó Zrt. (Gallicoop Turkey Processing Plc) said last week that the introduction of a 5 percent VAT rate in the swine sector is meaningless, because it will not improve the situation in the pig industry. In his view, the only effect of the VAT reduction will be to worsen the position of the poultry sector. (MTI)